b. If an Event of Loss while in Lessee’s operational control with respect to the Aircraft shall occur, at Lessee’s election, Lessee shall
(i) promptly give Lessor written notice thereof, and Lessee shall pay to Lessor on the Loss Payment Date an amount equal to the sum of (x) the Stipulated Loss Value of the Aircraft computed as of the Rent Payment Date with respect to the
Aircraft on or immediately preceding the Loss Payment Date; and (y) all rent and other amounts due and owing hereunder for the Aircraft on or 


  


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